Amazon, Alphabet, and Jobs Data Take Centre Stage
Big Tech & Payrolls Dominate Market Sentiment
AI, Ads & Amazon earnings in focus
Will the Bank of England cut rates? Markets on edge
Palantir earnings: Is it overvalued?
TSMC slips amid DeepSeek AI shockwave
Market Movers
NSKOG.OL (Norske Skog A...) ▲ 26.33% (23.76)
DECK (Deckers Outdoor) ▼ 20.51% (177.36)
TEAM (Atlassian Corp) ▲ 14.92% (306.78)
HIMS (Hims & Hers Health) ▲ 9.78% (37.28)
News Highlights
The Week Ahead: Big Tech & Payrolls Take Centre Stage
Markets brace for a wave of key economic data, with Friday’s US Non-Farm Payrolls (NFP) report taking the spotlight. Leading up to it, investors will monitor the JOLTS job openings report on Tuesday and consumer sentiment data on Friday.
In Europe, markets will react to wholesale inflation (Wednesday), retail sales (Thursday), and a potential Bank of England rate cut. Canada’s job report is also set to be released on Friday.
Earnings season remains in full swing, with major names such as Alphabet (GOOGL), Palantir (PLTR), Novo Nordisk (NVO), Walt Disney (DIS), and Qualcomm (QCOM) reporting in the US. In the UK, pharma giants GSK and AstraZeneca will also release earnings, keeping the sector in focus.
Crypto Takes a Hit as Trump’s Tariffs Spark Uncertainty
The crypto market plunged after Trump announced new trade tariffs, sending Ethereum down 27%, its biggest drop since 2021. Bitcoin is now trading at $94,000, with altcoins and memecoins following the broader decline. This comes after a surge in optimism around Trump’s pro-crypto stance, but the recent tariffs have left traders rattled. Expect volatility to remain high.
Movers & Shakers
TSMC (Taiwan Semiconductor) ▼ 6.00% (209.32)
Shares fell after a global AI selloff, triggered by DeepSeek’s AI model, which investors fear could challenge dominant US firms. Hon Hai also dropped 9.2%, dragging Taiwan’s Taiex index down 4.4%.
AbbVie (ABBV) ▲ 4.70% (183.90)
Shares surged after raising 2027 revenue forecasts for blockbuster drugs Skyrizi and Rinvoq by $4 billion. Despite headwinds in its aesthetics division, strong immunology sales drove total revenue to $15.1 billion, exceeding expectations.
Commerzbank (CBK.DE) ▲ 1.55% (18.63)
Commerzbank posted record annual profits of €2.68B, a 20% increase. The bank announced a €400M share buyback and raised its dividend to €0.65 per share. With UniCredit increasing its stake, speculation over a potential takeover is growing.
Chevron (CVX) ▼ 4.56% (149.19)
Despite Q4 net income rising to $3.2B ($1.84/share) from $2.3B ($1.22/share) last year, Chevron missed earnings expectations. Refining operations posted their first quarterly loss since 2020, but the company raised its dividend by 5%, signalling long-term confidence.
Coming Up Today
China Caixin Manufacturing PMI (Jan): Expected 50.5 (CNH crosses)
Eurozone CPI (Jan, flash): Expected 2.3% YoY, core 2.6% (EUR crosses)
US ISM Manufacturing PMI (Jan): Expected 49.8 (prev. 49.3) (USD crosses)
What to Watch
Australia Retail Sales & RBA Outlook
Australia’s December retail sales will be key ahead of the RBA’s February meeting. With weak Q4 inflation, markets are pricing in a rate cut next month.
China PMI & Economic Strength
China’s January PMI data will give insight into economic momentum amid stimulus policies. The official manufacturing PMI dropped to 49.1, suggesting contraction. The Caixin PMI is expected at 50.2, down from 52.2 in December.
Palantir’s Q4 Earnings (Feb 3)
Palantir’s stock is up 375% YoY, driven by AI and defence contracts. Q3 revenue hit $725.5M, beating estimates. Full-year guidance was raised, but with the stock seen as a "Trump trade," investors will watch for AI platform growth and new government deals. Valuation concerns remain high.
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